what does it meen when it says "possible owner financing"?
2006-08-02 00:13:15 · 5 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
What does "meen" mean?
2006-08-09 23:35:39 · answer #1 · answered by Anonymous · 0⤊ 1⤋
Owner-financing is not that common anymore. It's not in the seller's best interest to finance the house for you unless they are desperate to sell the property(death in the family, new zoning laws, major repairs, etc). When this happens you may be paying up to twice the interest rates. Check the following site for more information on owner financing: http://michaelbluejay.com/house/owner-financing.html
It says Possible owner financing, so it is an option. It could be a lead-in to Assuming their loan. Gotta be careful here. It all depends on how much they put down and how many years they've been paying the mortgage, and how much the property has appreciated. But on the other hand an assumed loan is generally paid off faster.
Good Luck I hope everything works out for you. Really check into the "Possible" owner financing - see what is really going on.
2006-08-10 06:26:51 · answer #2 · answered by Ding-Ding 7 · 0⤊ 0⤋
May be no loan by bank. Owner finances the venture or real estate. Get money to finance.
2006-08-02 07:18:09 · answer #3 · answered by Anonymous · 0⤊ 0⤋
It means the owner of the property may hold the mortgage.. instead of paying the bank 600 a month you would pay the owner of the property..that way if you default, it goes back to him.. I think..lol
2006-08-02 07:19:12 · answer #4 · answered by oneblondepilgrim 6 · 0⤊ 0⤋
This means that the owner will arrrange for you to pay him/her monthly payments rather than you go to a bank for a loan...be careful...this can bite you.
2006-08-02 07:20:13 · answer #5 · answered by Frank 6 · 0⤊ 0⤋